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LMAX = revolution?!?

  • #1,061
  • Jun 1, 2012 12:58pm Jun 1, 2012 12:58pm
Quoting Marv
No, it's an introducing bröker.

There is no difference what IB you're using to access the LMAX exchange. What makes the difference is using the MT4 bridge (and other less significant factors like your distance from the LMAX servers).



Avoid MT4 if that's what you want.
That slippage would kinda support my suspicion though. MT is crap yes but slippage is not what MT necessarily introduces. That is what the broker defrauds you with and it is the reason for most bucketshops to use MT. They could easily afford a solid java solution but they will always choose MT because of the newbies of course AND most important it's perfect design for ripping of people. (other brokers do that with their own java implementations of virtual dealer of course... hint... du.... but they are at least clever enough to just scam you for 0.5 or 1 pip instead of the usual unlimited pips that the 4 big MT brokers try to scam you for)

It would be nice if some of the MT users here could comment on their slippage with Armada especially under different situations.
  • #1,062
  • Jun 1, 2012 12:59pm Jun 1, 2012 12:59pm
Quoting ns_karthik
i am not selling anything....i came to know some of their top people thru another deal that i have with them.....and when i came across this thread, i thought i could help by pulling some strings...if no one needs it, fine with me...i have better things to do....
Sorry i wrote it in the wrong way maybe. It was not meant to offend you / label you. I was just interested in it and figured why only PM if it is for the good of all.
  • #1,063
  • Jun 1, 2012 1:04pm Jun 1, 2012 1:04pm
Quoting unknown4x
Sorry i wrote it in the wrong way maybe. It was not meant to offend you / label you. I was just interested in it and figured why only PM if it is for the good of all.
honestly, i dont have an offer cos i have never thought of asking someone to open accounts with them....i dont solicit for them as well...only thing i know is that they have far better spreads than anyone in the market and low charges as well....and i know a few people there thru some other deal.....so i just thought 'why not' help a few traders if they really wanted to work with lmax....

a few have PMed me and i will probably have some details for them on Monday...
  • #1,064
  • Jun 1, 2012 1:13pm Jun 1, 2012 1:13pm
Quoting Marv
Your concerns are legitimate ones. But you seem to forget the time delay factor (when placing market orders) which gets increased by the whole travelling through the MT4 system before going to the real thing (LMAX exchange), add that to very quickly changing prices and you get an increased risk of slippage (which could end up being positive as it could end up being negative).

Soon I am going to be testing non-MT4 access to LMAX through Armada. The execution quality should be the same as when trading directly through LMAX. If it's not (which would...
Yeah i know that's what i was referring to earlier when i told people to download the lmax api java examples and compare those ticks to the MT ticks which are MUCH slower in fact. Same goes for execution of course. I figured it should not be that much on average though since prices tick a lot but don't move such fast a lot except for strong momentum candles.

You seem to execute through armada live. What is your experience with it concerning slippage?
  • #1,065
  • Jun 1, 2012 1:16pm Jun 1, 2012 1:16pm
Quoting ns_karthik
honestly, i dont have an offer cos i have never thought of asking someone to open accounts with them....i dont solicit for them as well...only thing i know is that they have far better spreads than anyone in the market and low charges as well....and i know a few people there thru some other deal.....so i just thought 'why not' help a few traders if they really wanted to work with lmax....

a few have PMed me and i will probably have some details for them on Monday...
Why not just say in plain English what is it exactly that you're "offering"?

"Details" of what? "Pulling strings"?

I personally have no time for bullshit. So either legitimately post your offering or I'll report you just in case you're playing games.
  • #1,066
  • Jun 1, 2012 1:16pm Jun 1, 2012 1:16pm
15 years of futures trading - and still using micro contracts? Still thinking there is no slippage in futures? Damn..
  • #1,067
  • Jun 1, 2012 1:25pm Jun 1, 2012 1:25pm
Quoting unknown4x
Yeah i know that's what i was referring to earlier when i told people to download the lmax api java examples and compare those ticks to the MT ticks which are MUCH slower in fact.
Yep. As you know (I think you actually said this yourself?) MT4 has a limit on how many ticks/time it can process, one of the things MT4 bridges attempt to work around.

Quoting unknown4x
You seem to execute through armada live. What is your experience with it concerning slippage?
Not lightening fast but not bad at all to be honest (both execution and slippage). I'm not a high frequency scalper though, and I don't usually trade around high impact events like today's NFP/unemployment release etc.

Quoting shrike
15 years of futures trading - and still using micro contracts? Still thinking there is no slippage in futures? Damn..
haha, that too.
  • #1,068
  • Jun 1, 2012 1:48pm Jun 1, 2012 1:48pm
Quoting Marv
Yep. As you know (I think you actually said this yourself?) MT4 has a limit on how many ticks/time it can process, one of the things MT4 bridges attempt to work around.



Not lightening fast but not bad at all to be honest (both execution and slippage). I'm not a high frequency scalper though, and I don't usually trade around high impact events like today's NFP/unemployment release etc.



haha, that too.
Thanks. Can you quantify the approx. average slippage?
  • #1,069
  • Jun 1, 2012 2:23pm Jun 1, 2012 2:23pm
Quoting shrike
15 years of futures trading - and still using micro contracts? Still thinking there is no slippage in futures? Damn..
Yes, man. You are right. I withdraw some thousand $ every year which I need.
And: real life is not a movie where you start with one Dow Jones Mini and trade 80 YM after one year.

Micros are good for scaling out. If you trade one big euro you are married to your position. If you choose 10 micros, you can close 5 of them after 200 pips profit and let the rest run.
  • #1,070
  • Jun 1, 2012 2:25pm Jun 1, 2012 2:25pm
Of course, there is sometimes slippage. I lost some $ before I realized that is not clever to use limit orders in fast markets. But not in every single trade.
  • #1,071
  • Jun 1, 2012 3:22pm Jun 1, 2012 3:22pm
Quoting unknown4x
Thanks. Can you quantify the approx. average slippage?
I'd say about 0.3 pips on average. I don't have enough data though, and won't have it as I'll be switching from MT4 execution to API sometime next week.
  • #1,072
  • Edited 4:22pm Jun 1, 2012 4:07pm | Edited 4:22pm
Hi, so you want a curriculum?

If you are undercapitalized to trade Futures (under 25.000 euro) then the learning curve will not be very steep. The smallest Future contract back in 2003 was the Dow Jones Mini (5$).

I lost the most time with swiss forex Brokers. Deposit, trade, withdraw the Initial balance (if you were Lucky enough) after one year trading. Finodds was the only broker which let me withdraw my profits. After they changed their liquidity provider 2010... You know the rest of the Story. So I am not amused about Lmax at all. I would not be surprised at all if Lmax is only a trick of Banks to centralize the collective rip off. But I will follow the discussion here. May the World be free.
  • #1,073
  • Jun 1, 2012 4:18pm Jun 1, 2012 4:18pm
Lol. Marv, this is a joke. What have they said to you? "We have a very profitable customer base from Far East " Haha, know these guys from trading fares. The most of them worked formerly for Saxo and odl. Where they learned the Business.

Look at their feed. Even a three years old forex scripting kiddie will be able to see the algo.

Haha, this board is full of wannabes. The reality is very simple. The banks let you not trade the forex if you are not an institutional. Haha. DREAM on.
  • #1,074
  • Jun 1, 2012 4:33pm Jun 1, 2012 4:33pm
Bipolar much?

P.S. yes mate, this slippage on limit orders in fast markets, huge probelm, i'm telling you..
  • #1,075
  • Jun 1, 2012 4:39pm Jun 1, 2012 4:39pm
Quoting shrike
Bipolar much?

P.S. yes mate, this slippage on limit orders in fast markets, huge probelm, i'm telling you..
Don't worry.
You can donate the rest of your money to the banks on Monday.
  • #1,076
  • Jun 1, 2012 4:41pm Jun 1, 2012 4:41pm
Just give them your fill. Haha.
  • #1,077
  • Jun 1, 2012 5:24pm Jun 1, 2012 5:24pm
*troll alert*

Sounds like you lost a lot of money in Forex and you're blaming it on the "banks" (or whatever... doesn't sound interesting, sounds more like attempts to rationalize previous losses than actual facts about the Forex bröker market).

Do you have anything useful to contribute to this particular thread? Have you traded via LMAX?
  • #1,078
  • Jun 1, 2012 5:32pm Jun 1, 2012 5:32pm
Quoting 666
I would not be surprised at all if Lmax is only a trick of Banks to centralize the collective rip off.
so you're basically just "guessing"...

Aaaand off to the ignore list you go.
  • #1,079
  • Jun 2, 2012 12:52am Jun 2, 2012 12:52am
Quoting Marv
I'd say about 0.3 pips on average. I don't have enough data though, and won't have it as I'll be switching from MT4 execution to API sometime next week.
Hi Marv,

I am using Armada MT4 solution as well but I do not like MT4 so I was wondering what will you be using as a trading platform? I was playing around with FXOne excel platform as it ties into my Excel back-end risk management spreadsheets that I have but I do not know if they will add Lmax API feed yet.

What will you use? Is it a custom platform? Will it be shared? Thanks
Traderdesk -
  • #1,080
  • Jun 2, 2012 2:14am Jun 2, 2012 2:14am
Every now and then people come to FX boards trying to convince others that they shouldn't be trading FX spot. Only the futures. They speak about centralized market,listed contracts,no slippage(which is weird,I've been trading futures for some time and there's slippage there). After a couple of posts they try to sell some e-book where they explain how to trade futures successfully i.e. no charts, DOM trading only etc. Which won't work because you'll be competing against huge funds and you're a way behind them technology wise in order to beat them in this type of lightning fast trading style. But these people don't really care. They made their 60$ so the deal was done I'm not telling that futures trading is unprofitable. It could be profitable exactly like spot trading could be. The best things about futures trading are listed contracts and a kind of transparency but it lacks the spot's flexibility and in case of currency futures spot's liquidity.
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